A Permanent Decrease in Demand for Convenience Store Services Is

question 149

Multiple Choice

A permanent decrease in demand for convenience store services is likely to cause which of the following in the long run?

• A)an economic loss for each firm
• B)a higher price for each firm's output
• C)fewer firms in the industry
• D)more firms in the industry
• E)economic profit for each firm

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Definitions:

Checklist

A comprehensive list of items or tasks that need to be completed, often used for verification, inspection, or procedural purposes.

Invoice Approval

The process of reviewing and verifying supplier invoices before payment is made, ensuring the amounts billed are accurate and authorized.

Check Authorization

A process used in financial management where a check's validity and accuracy are verified before it's processed for payment.

Depositor's Account

An account maintained by a depositor at a financial institution, representing deposited funds that can be withdrawn.